If you’re considering mortgage refinancing but have had problems qualifying in the past credit unions could be an alternative to get the approval you need. Credit Unions typically offer better service and may have an easier time qualifying for mortgage refinancing. Here’s an article on HSH.com with the pros and cons of mortgage refinance loans with a credit union:
There’s a ton of negative press surrounding the nation’s banks these days. Whether it’s the bailouts, the robo-signings, unjust foreclosures, or just the lack of a quality-customer experience, many consumers have grown tired and frustrated dealing with their banks. Especially if you have tried unsuccessfully to refinance your mortgage with a bank, perhaps it’s time that you considered taking your business elsewhere. Maybe it’s time you thought about refinancing through a credit union.
It doesn’t matter if your mortgage refinance is with a credit union or a traditional mortgage lender, how good of a deal you’re getting in today’s economy depends more on the fees you’re being charged and less on getting today’s lowest refinance rates. The mortgage rates you get depend on your credit score; however, you have to recoup the loan origination fees and closing costs before benefiting from your mortgage refi.
One of the most common mortgage mistakes is accepting lender fees as mandatory. The fees you pay refinancing your home are fully negotiable and vary from one lender to the next. Don’t be afraid to haggle over fees, especially when it comes to the broker’s loan origination fee. The less you pay the quicker you’ll break even on your out-of-pocket expenses and benefit from mortgage refinancing.
You can learn more about getting today’s best refinance rates without paying lender junk fees by checking out my free Underground Mortgage Videos.